Cannabis stocks mixed with Aphria down after unveiling a new debt offering

宣布新的债务发行后,大麻股票 Aphria 股价下跌

2019-04-18 08:00:49 MarketWatch


By Cannabis stocks were mixed on Wednesday, with Aphria Inc. falling after it announced plans to issue up to $300 million of convertible debt. Leamington, Ontario-based Aphria APHA, -4.95% APHA, -4.75%  said it would sell the notes in a private placement with the aim of using the proceeds to finance international expansion, for acquisitions and the catchall general corporate purposes. The stock has been under pressure since the company posted earnings earlier this week, showing a wide loss for its fiscal third quarter, that overshadowed a surge in revenue in the first full quarter of Canadian legalization. Also from Canada, Evolve Funds Group Inc. said it has launched the first exchange-traded-fund focused on the U.S. cannabis industry. The North American Cannabis Holdings Inc. ETF USMJ, +16.67%  started trading on the NEO Exchange in Toronto on Wednesday. Evolve Chief Executive Raj Lala said the cannabis opportunity in the U.S. is similar to that of Canada a few years ago, but has the potential to be much larger. “Given the population in the U.S. compared to Canada, there are some U.S. cannabis companies generating more revenue than Canadian producers, albeit with much smaller market caps,” he said in a statement. The fund will have competition as soon as Thursday, when the Horizons ETFs Management Inc. will launch its own fund tracking U.S. cannabis companies. That fund, the Horizons US Marijuana Index, is also listing on the NEO Exchange and will focus on U.S. cannabis and hemp companies. The ETF will trade under the ticker symbol “HMUS.” “As the U.S. continues to further liberalize its marijuana regulations, we anticipate that more investors will be looking to invest in companies with significant business operations in the U.S. market and HMUS will provide a diversified and liquid way to gain that exposure in one ETF,” Horizons Chief Executive Steve Hawkins said in a statement. Don’t miss: Greenlane IPO: 5 things to know about the closest thing to a U.S. cannabis company to go public on Nasdaq That fund’s top holdings include Curaleaf Holding Inc. CURLF, +7.17% Cresco Labs Inc. CRLBF, +4.42%  and Charlotte’s Web Holdings Inc. CWBHF, +5.92% Canopy Growth Corp. CGC, +2.98% WEED, +3.10%  Chief Executive Bruce Linton is expecting revenue to top C$1 billion ($744 million) this fiscal year, according to a Bloomberg report. That would be 19% above analyst estimates. Linton is expecting revenue to grow steadily through the year and to accelerate in the final quarter as Canada adds more retail outlets. Village Farms International Inc. shares VFF, +7.96%  rose 3.9%, recovering some of their prior-day losses that came after short seller Citron Research said the company is working with shady stock promoters that have a record of failed businesses, while company insiders have been dumping their stock. Citron said the company should be scrutinized by the U.S. Securities and Exchange Commission because so many of the red flags that the regulator has warned investors about are evident in the company. “With a rapidly growing universe of cannabis stocks to invest in this global trend, why would investors choose to give their capital to a company that only owns 50% of a farming entity alongside an operator with a long history of stock promotion and failures?” Citron said in a research report. “At the same $700 million enterprise value, you can invest in a much higher quality operator like CannTrust. Unlike the Canadian listed US multi state operators or vertically integrated players, Village Farms is at best a farmer with a record of failure.” See also: Cannabis companies say they are growing enough pot, they just can’t deliver it The company was not immediately available for comment. The stock has fallen 11% on the week. From Colorado comes the news that burger chain Carl’s Jr. is planning to test a CBD-infused cheeseburger for one day—4/20 of course—at one restaurant in Denver. Colorado is one of the 10 states that has legalized cannabis for adult recreational use, but the company will still be at risk of an enforcement action. CBD, the nonintoxicating cannabis ingredient that’s widely held to have wellness properties, is viewed by the Food and Drug Administration as a drug as it is used in the only cannabis-based medicine to win FDA approval as a treatment for childhood epilepsy. The FDA has told companies they cannot add it to food or beverages without its approval. “We have reviewed the issues surrounding hemp-derived CBD oil and will be offering it on 4/20 at one location in Denver, a city which has been a trailblazer in the CBD movement,” said a Carl’s Jr. spokesperson said in an emailed statement to MarketWatch. For more, read: This is the only place to get Carl’s Jr.’s CBD-infused cheeseburger on 4/20 Elsewhere in the sector, Cronos Group Inc. CRON, -0.18% CRON, +0.00%  was down 0.9%, Aurora Cannabis Inc. ACB, +1.85% ACB, +1.35%  was up 1.3%, and Tilray Inc. TLRY, +0.60%  was down 0.6%. Hexo Corp. HEXO, +10.42%  was up 8.7% after Bank of America initiated coverage of the stock with a buy rating. Green Organic Dutchman Holdings Ltd. TGODF, +0.02% TGOD, +0.76%  was up 0.3%. CannTrust Holdings Inc. CTST, +7.16% TRST, +6.59%  was up 6.3% and GW Pharmaceuticals PLC GWPH, -2.62%  was down 1.6%. Read: Tilray stock rises after the company shows it can sell recreational pot The Horizons Marijuana Life Sciences ETF HMMJ, +0.68% was up 0.3%, and the ETFMG Alternative Harvest ETF MJ, +0.19% was flat. The Dow Jones Industrial Average DJIA, +0.02%  and the S&P 500 index SPX, -0.12%  were down 0.1%. See also: In California’s Weed Country, wildfires burn both cash and crops Cannabis Watch: All of MarketWatch’s coverage of cannabis companies Additional reporting by Tomi Kilgore Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
由。 周三,坎纳比斯的股票走势喜忧参半, Aphria Inc .宣布计划发行至多3亿美元的可转换债券,随后该公司股价下跌。 总部设在安大略的 Aphria Leamington APHA ,-4.95% APHA ,-4.75% 该公司表示,将以私募方式出售这些票据,目的是利用这些收益为国际扩张、收购和总体公司目标融资。自从该公司本周早些时候公布财报以来,该公司股价一直处于压力之下,该公司第三财季出现了巨额亏损,这掩盖了加拿大法律化第一季度收入的激增。 同样来自加拿大的 Evolve Funds Group Inc .也表示,已推出首只专注于美国大麻行业的交易所交易基金( ETF )。北美 Cannabis Holdings Inc . ETF USMJ ,+16.67% 周三在多伦多的 NEO 交易所开始交易。 Evolve 首席执行长拉拉( Raj Lala )说,美国大麻市场的机会与几年前的加拿大相似,但潜力要大得多。 他在一份声明中表示:“鉴于美国的人口数量与加拿大相比,一些美国大麻公司的收入高于加拿大生产商,尽管市值要小得多。” 该基金最早将在周四展开竞争,届时 Horizons ETF Management Inc .将推出追踪美国大麻公司的自有基金。该基金名为 Horizons 美国大麻指数( Horizons US Marijuana Index ),也将在 NEO 交易所上市,并将专注于美国大麻和大麻公司。ETF 将以交易代码“ HMUS ”进行交易。 Horizons 首席执行官史蒂夫•霍金斯( Steve Hawkins )在一份声明中表示:“随着美国继续进一步放开大麻监管,我们预计将有更多投资者寻求投资于在美国市场有重大业务运营的公司,而 HMUS 将提供一种多样化、流动性强的方式,以获得一只 ETF 的敞口。” 别错过: Greenlane IPO :5件事要知道的最接近一家美国大麻公司在纳斯达克上市 该基金的最大持股包括 Curaleaf Holding Inc .。 CURLF ,+7.17% 库斯科实验室公司。 CRLBF ,+4.42% 以及夏洛特的网络控股公司。 CWBHF ,+5.92% Canopy Growth Corp . CGC ,+2.98% WEED ,+3.10% 彭博( Bloomberg )的一份报告显示,首席执行长林惇( Bruce Linton )预计本财年收入将突破10亿加元(合7.44亿美元)。这将比分析师的估计高出19%。林惇预计,随着加拿大增加更多的零售商店,全年收入将稳步增长,在最后一个季度将加速增长。 Village Farms International Inc .股份 VFF ,+7.96% 股价上涨3.9%,收复了部分前一天的失地。此前,做空机构香橼研究( Citron Research )表示,该公司正与业绩不佳的股票推广商合作,而公司内部人士一直在抛售股票。 Citron 表示,该公司应接受美国证券交易委员会( SEC )的审查,因为监管机构警告投资者的许多危险信号在该公司显而易见。 “随着大麻库存的迅速增长,投资于这一全球趋势,为什么投资者会选择把自己的资金交给一家仅拥有50%农业实体股份的公司,以及一家有着悠久股票促销和失败历史的运营商?Citron 在一份研究报告中表示。“以7亿美元的企业价值,你可以投资更高质量的运营商,比如 CannTrust 。与加拿大上市的美国多国运营商或垂直整合企业不同, Village Farms 充其量只是一位有失败记录的农民。” 另外,大麻公司说他们种植的大麻足够多,他们无法提供 该公司没有立即得到评论。该股本周下跌了11%。 来自科罗拉多州的消息传出后,汉堡连锁店 Carl ’ s Jr .计划在丹佛的一家餐厅测试一款 CBD 注入的奶酪汉堡,为期一天,当然是4/20天。科罗拉多州是10个将大麻合法化用于成人娱乐用途的州之一,但该公司仍将面临执法行动的风险。 CBD 是一种被广泛认为具有健康特性的无毒大麻成分,被美国食品和药物管理局( FDA )视为一种药物,因为它被用于唯一一种大麻药物,以赢得 FDA 的批准,作为治疗儿童癫痫的药物。FDA 已经告诉公司,未经批准,他们不能将其添加到食品或饮料中。 卡尔的一位小发言人在给市场观察( MarketWatch )的一份电子邮件声明中说:“我们已经审查了有关大麻衍生的 CBD 石油的问题,并将于4月20日在丹佛的一个地点提供这种石油。在 CBD 运动中,丹佛一直是一个开拓者。” 要了解更多信息,请阅读:这是卡尔的 CBD 奶酪汉堡在4/20上的唯一地方 在该行业的其他领域, Cronos Group Inc 。 CRON ,-0.18% CRON ,+0.00% 下降了0.9%,奥罗拉(Aurora) Cannabis Inc 。 ACB ,+1.85% ACB ,+1.35% 上涨1.3%, Tilray Inc 。 TLRY ,+0.60% 下跌了0.6%。 Hexo 公司。 HEXO ,+10.42% 美国银行( Bank of America )对该股进行了买入评级后,股价上涨了8.7%。 荷兰格林有机控股有限公司. TGODF ,+0.02% TGOD ,+0.76% 上涨0.3%。佳能信托控股有限公司. CTST ,+7.16% TRST ,+6.59% 上涨6.3%, GWPharmaceuticalPLC GWPH ,-2.62% 下跌了1.6%。 阅读: Tilray 股价上涨后,该公司显示,它可以出售休闲壶 Horizons Marijuana Life Sciences ETF HMMJ ,+0.68% ETFMG 另类收获 ETF 上涨0.3 MJ ,+0.19% 是平的。 道琼斯工业平均指数 DJIA ,+0.02% 标准普尔500指数 SPX ,-0.12% 下跌了0.1%。 另见:在加州的 Weed Country ,野火燃烧现金和农作物 大麻观察: MarketWatch 对大麻公司的所有报道 Tomi Kilgore 的补充报告 Ciara Linnane 是 MarketWatch 的投资和企业新闻编辑。她在纽约。